Answer:
This question is incomplete, the options are missing. The options are the following:
A) The old price times the change in quantity.
B) The old price times the new quantity.
C) The new price times the change in quantity.
D) The old quantity times the change in price.
And the correct answer is the option D: The old quantity times the change in price.
Explanation:
To begin with, the name of <em>"Price Effect"</em> refers to a concept known in economics as the situation where a consumer is affected by the change in the price that a good he plans to buy staying everything else constant. This effect is quantifiable as the old quantity times the change in price when we see the representation in a graphic due to the fact that when the demand curve moves the new position will be established by that new price that have affected the consumer given the same old quantity.
Answer and Explanation:
The journal entries are shown below:
1. Accounts receivable a/c Dr $1,840
To Sales revenue a/c Cr $1,840
(Being the sales is recorded)
2. Cost of goods sold a/c Dr $1,170
To Inventory a/c Cr $1,170
(Being the cost of goods sold is recorded)
3. Cash a/c Dr $1,840
To Accounts receivable a/c Cr $1,840
(Being the payment received is recorded)
Only these three entries are recorded
ANSWER:
Path Breakers:
Leo is very confident in his own style of selling, he doesn't go the conventional way, and has charted out a route for himself that gets him the desired results.
Challengers:
Anna puts in a lot of hard work everyday. She also puts in extra effort and record the highest number of visits and calls per day.
Dependable problem solvers:
Tanya understands her customer's business and thinks in a directed manner to solve their problems in an assertive manner through communication.
Toilers:
George always follows up with his customers after a sale. He makes sure that the product has been as per promised by getting in touch with his customers.
Hope this helps!
Answer:
1. Increase in real income percentage = 1.5%
2. Rate of inflation = 1.7%
Explanation:
For computing the percentage of how much real income would increase, we have to apply the formulas which are shown below:
The increase in real income percentage would be equal to
= increase in nominal income percentage - increase in price level percentage
= 5.3% - 3.8%
= 1.5%
And, the rate of inflation equals to
Nominal income - the rate of inflation = Real income
2.8% - rate of inflation = 1.1%
So, the rate of inflation = 1.7%
Answer:
The correct answer is: services.
Explanation:
Services can be defined as economic activities that produce intangible and non-physical products. For instance, education, health, tourism, hospitality, etc.
Services cannot be stored in inventory. They are produced and consumed at the same time. They cannot be produced in advance to be used in the future.
